Blocked on Its Ohio Bailout, FirstEnergy Tries a Regulatory End Run

first_img FacebookTwitterLinkedInEmailPrint分享John Funk for the Cleveland Plain Dealer:FirstEnergy now wants Ohio regulators to forget about the “power purchase agreements” they approved to save the company’s old power plants — but at the same time allow the company to keep the monthly customer surcharges that the PPAs were designed to produce.In a move that appears to be a strategy to avoid federal review of the PPAs that U.S. regulators demanded last week, FirstEnergy filed a modified version of its rate plan late Monday with the Public Utilities Commission of Ohio.As now proposed, FirstEnergy’s plan would eliminate the power purchase agreements between FirstEnergy’s regulated local power delivery companies — Ohio Edison, the Illuminating Co. and Toledo Edison —  and its unregulated FirstEnergy Solutions, which owns the power plants.Yet the plan would keep the new charges the purchase agreements would have forced customers to pay. In other words, customers still would see their monthly bills increase under this revised plan.In short, there would be nothing for the Federal Energy Regulatory Commission to review in this modified plan. And therefore there would be nothing to impede the PUCO from quickly approving the modified plan.Full article: FirstEnergy abandons its ‘power purchase agreements,’ but not its plan for customers to pay more Blocked on Its Ohio Bailout, FirstEnergy Tries a Regulatory End Runlast_img

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